BENSALEM, Pa., May 16, 2012 (GLOBE NEWSWIRE) -- Gyrotron Technology (OTC:GYTI) a high performance industrial process technology company announces that it is now quoted on the OTC Markets as a current filer. Gyrotron would also like to update shareholders on its corporate objectives for 2012.
GYTI was formed to capitalize on the very broad industrial potential of the gyrotron beam (the "GB"), a concentrated flux of microwave energy that shares some characteristics with both the laser and conventional microwave, while possessing unique capabilities. GYTI has developed, and is seeking to license, numerous industrial processes employing novel methods for heating, primarily for the glass, semiconductor, solar cell, adhesives plastics and food industries. Processes employing the GB have the potential for major cost savings over conventional techniques and enable new products.
Additionally, GYTI has developed and sells a patented system for glass laminating and encapsulation of solar modules ("GLS") , which is the only currently available tool for in-line production of laminated glass and solar modules without external pressure (e.g. autoclaves, pinch rollers, vacuum bags).
Corporate Objectives for 2012
- Finish a GB installation for glass shaping at a Fortune 500 company and begin generating a royalty stream.
- Complete negotiations for three more shaping installations for 2013.
- Contract for the development and assembly of a GB glass-cutting installation.
- Obtain orders for 4 GLS installations.
- Obtain USDA grant for pilot installation for meat decontamination.
- File 3 additional patent applications.
- Increase common stock float and liquidity.
About Gyrotron Technology GYTI.PK
Develops and markets unique industrial technologies to a broad range of industries, including glass, solar, and semiconductor. These technologies open new horizons, substantially enhancing productivity and cutting costs by, among other things, applying heat in a dramatically more efficient and effective manner than is possible with legacy technologies. Please visit our website http://www.gyrotrontech.com/ or go to http://www.gyrotrontech.com/images/gyti.pk%20summary.pdf for GYTI summary information.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of GYTI. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherent herein and in publically available information on GYTI. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.